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马拉松石油（MPC）与壳牌（SHEL）财务数据对比。点击上方公司名可切换其他公司
壳牌的季度营收约是马拉松石油的2.0倍（$65.4B vs $32.6B），壳牌净利率更高（5.6% vs 4.7%，领先0.9%），马拉松石油同比增速更快（-1.7% vs -12.2%），过去两年马拉松石油的营收复合增速更高（-0.2% vs -11.9%）
马拉松石油是总部位于美国俄亥俄州芬德利的能源企业，核心业务覆盖石油炼制、销售与运输全链条。该公司此前为马拉松石油集团的全资子公司，于2011年完成分拆后独立运营。
壳牌是总部位于英国伦敦的跨国油气企业，为国际石油巨头的核心成员。公司为公众有限公司，在伦敦证券交易所主上市，同时在阿姆斯特丹泛欧交易所、纽约证券交易所二次上市，按营收计是全球第二大投资者所有油气企业，也位列全球全行业规模最大的企业行列。
MPC vs SHEL — 直观对比
营收规模更大
SHEL
是对方的2.0倍
$32.6B
营收增速更快
MPC
高出10.5%
-12.2%
净利率更高
SHEL
高出0.9%
4.7%
两年增速更快
MPC
近两年复合增速
-11.9%
损益表 — Q4 FY2025 vs Q2 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $32.6B | $65.4B |
| 净利润 | $1.5B | $3.6B |
| 毛利率 | 11.4% | — |
| 营业利润率 | 8.3% | — |
| 净利率 | 4.7% | 5.6% |
| 营收同比 | -1.7% | -12.2% |
| 净利润同比 | 313.7% | -0.2% |
| 每股收益（稀释后） | $4.99 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收MPCSHEL
| Q4 25 | $32.6B | — | ||
| Q3 25 | $34.8B | — | ||
| Q2 25 | $33.8B | $65.4B | ||
| Q1 25 | $31.5B | $69.2B | ||
| Q4 24 | $33.1B | — | ||
| Q3 24 | $35.1B | — | ||
| Q2 24 | $37.9B | $74.5B | ||
| Q1 24 | $32.7B | $72.5B |
净利润MPCSHEL
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.2B | $3.6B | ||
| Q1 25 | $-74.0M | $4.9B | ||
| Q4 24 | $371.0M | — | ||
| Q3 24 | $622.0M | — | ||
| Q2 24 | $1.5B | $3.6B | ||
| Q1 24 | $937.0M | $7.4B |
毛利率MPCSHEL
| Q4 25 | 11.4% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 11.2% | — | ||
| Q1 25 | 6.8% | — | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 8.4% | — | ||
| Q2 24 | 10.5% | — | ||
| Q1 24 | 9.5% | — |
营业利润率MPCSHEL
| Q4 25 | 8.3% | — | ||
| Q3 25 | 7.8% | — | ||
| Q2 25 | 6.5% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.8% | — | ||
| Q2 24 | 6.7% | — | ||
| Q1 24 | 5.5% | — |
净利率MPCSHEL
| Q4 25 | 4.7% | — | ||
| Q3 25 | 3.9% | — | ||
| Q2 25 | 3.6% | 5.6% | ||
| Q1 25 | -0.2% | 7.0% | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.8% | — | ||
| Q2 24 | 4.0% | 4.9% | ||
| Q1 24 | 2.9% | 10.3% |
每股收益（稀释后）MPCSHEL
| Q4 25 | $4.99 | — | ||
| Q3 25 | $4.51 | — | ||
| Q2 25 | $3.96 | — | ||
| Q1 25 | $-0.24 | — | ||
| Q4 24 | $1.30 | — | ||
| Q3 24 | $1.87 | — | ||
| Q2 24 | $4.33 | — | ||
| Q1 24 | $2.58 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $3.7B | $32.7B |
| 总债务越低越好 | $30.5B | — |
| 股东权益账面价值 | $17.3B | $183.1B |
| 总资产 | $84.0B | $387.9B |
| 负债/权益比越低杠杆越低 | 1.76× | — |
8季度趋势，按日历期对齐
现金及短期投资MPCSHEL
| Q4 25 | $3.7B | — | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $1.7B | $32.7B | ||
| Q1 25 | $3.8B | $35.6B | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $8.5B | $38.1B | ||
| Q1 24 | $7.6B | $39.9B |
总债务MPCSHEL
| Q4 25 | $30.5B | — | ||
| Q3 25 | $31.2B | — | ||
| Q2 25 | $26.8B | — | ||
| Q1 25 | $26.8B | — | ||
| Q4 24 | $24.4B | — | ||
| Q3 24 | $24.1B | — | ||
| Q2 24 | $24.0B | — | ||
| Q1 24 | $24.8B | — |
股东权益MPCSHEL
| Q4 25 | $17.3B | — | ||
| Q3 25 | $17.1B | — | ||
| Q2 25 | $16.6B | $183.1B | ||
| Q1 25 | $16.4B | — | ||
| Q4 24 | $17.7B | — | ||
| Q3 24 | $18.9B | — | ||
| Q2 24 | $21.3B | $187.2B | ||
| Q1 24 | $22.9B | — |
总资产MPCSHEL
| Q4 25 | $84.0B | — | ||
| Q3 25 | $83.2B | — | ||
| Q2 25 | $78.5B | $387.9B | ||
| Q1 25 | $81.6B | — | ||
| Q4 24 | $78.9B | — | ||
| Q3 24 | $79.8B | — | ||
| Q2 24 | $85.2B | $394.8B | ||
| Q1 24 | $85.5B | — |
负债/权益比MPCSHEL
| Q4 25 | 1.76× | — | ||
| Q3 25 | 1.83× | — | ||
| Q2 25 | 1.61× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.38× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.13× | — | ||
| Q1 24 | 1.08× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $3.1B | $11.9B |
| 自由现金流经营现金流 - 资本支出 | $1.9B | — |
| 自由现金流率自由现金流/营收 | 5.8% | — |
| 资本支出强度资本支出/营收 | 3.6% | — |
| 现金转化率经营现金流/净利润 | 2.00× | 3.28× |
| 过去12个月自由现金流最近4个季度 | $4.8B | — |
8季度趋势，按日历期对齐
经营现金流MPCSHEL
| Q4 25 | $3.1B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | $11.9B | ||
| Q1 25 | $-64.0M | $9.3B | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $3.2B | $13.5B | ||
| Q1 24 | $1.5B | $13.3B |
自由现金流MPCSHEL
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $-727.0M | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $947.0M | — |
自由现金流率MPCSHEL
| Q4 25 | 5.8% | — | ||
| Q3 25 | 4.8% | — | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | -2.3% | — | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | 2.9% | — | ||
| Q2 24 | 7.3% | — | ||
| Q1 24 | 2.9% | — |
资本支出强度MPCSHEL
| Q4 25 | 3.6% | — | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 2.1% | — | ||
| Q4 24 | 2.4% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 1.8% | — |
现金转化率MPCSHEL
| Q4 25 | 2.00× | — | ||
| Q3 25 | 1.90× | — | ||
| Q2 25 | 2.17× | 3.28× | ||
| Q1 25 | — | 1.90× | ||
| Q4 24 | 5.95× | — | ||
| Q3 24 | 2.71× | — | ||
| Q2 24 | 2.14× | 3.70× | ||
| Q1 24 | 1.64× | 1.79× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
MPC
| Refined Products | $28.6B | 88% |
| Midstream | $1.4B | 4% |
| Crude Oil | $1.2B | 4% |
| Renewable Diesel | $851.0M | 3% |
| Related Party | $536.0M | 2% |
| Services & Other | $466.0M | 1% |
SHEL
暂无分部数据
